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The Deal Type is a property that indicates the type of deal you are creating. There are two types of deals you can create: Programmatic Guaranteed (PG) and Private Marketplace (PMP).

Programmatic Guaranteed (PG)

Programmatic Guaranteed (PG), also known as Automated Guaranteed or Programmatic Direct, is a purchasing method that automates the negotiation and contract process normally carried out in Direct (Regular) Campaigns. It is a one-to-one agreement between the advertiser and you as the Media Owner (Publisher).

Private Marketplace (PMP)

Private Marketplace (PMP) is a private or closed auction that can only be accessed by a select group of advertisers invited by you as the Media Owner (publisher). PMP is between Open Auction (open auction for all) and Programmatic Guaranteed (direct guaranteed agreement).
Here are the differences between Programmatic Guaranteed (PG) and Private Marketplace (PMP):
AspectProgrammatic Guaranteed (PG)Private Marketplace (PMP)
Purchase MechanismAutomatic Contract (Without Auction)Auction (Real-Time Bidding)
Participating PartiesOnly one advertiserGroup of invited advertisers
Inventory GuaranteeGuaranteedNon-Guaranteed
PriceFixed (agreed upon in advance)Dynamic (varies depending on bids)
Fund FlowPayment based on the agreed number of impressions & play.Payment based on impressions won in the auction.